Eight ($8) Labs Introductions
$8Labs is a decentralized protocol that allows for crypto borrowing without crypto collateral. A core limitation of current crypto lending protocols is that they require overcollateralization with crypto, which prevents the vast majority of borrowers in the world from participating. By incorporating the principle of “trust through consensus”, the 8Labs creates a way for borrowers to show creditworthiness based on the collective assessment of other participants rather than based on their crypto assets.
The protocol can then use this collective assessment as a signal for automatically allocating capital. By removing the need for crypto collateral and providing a means for passive yield, the protocol dramatically expands both the potential borrowers who can access crypto and the potential capital providers who can gain exposure.
8Labs Overview The Goldfinch protocol has four core participants: Borrowers, Backers, Liquidity Providers, and Auditors. Borrowers are participants who seek financing, and they propose Borrower Pools for the Backers to assess.
Borrower Pools contain the terms a Borrower seeks, like the interest rate and repayment schedule. Backers assess the Borrower Pools and decide whether to supply first-loss capital. After Backers supply capital, Borrowers can borrow and repay through the Borrower Pool. Liquidity Providers supply capital to the Senior Pool in order to earn passive yield. The Senior Pool uses the Leverage Model to automatically allocate capital to the Borrower Pools, based on how many Backers are participating in them. When the Senior Pool allocates capital, a portion of its interest is reallocated to the Backers. This increases the Backers’ effective yield, which incentives them to both provide the higher-risk first-loss capital and do the work of assessing Borrower Pools.
Community Driven
Eight Labs and 8Labs Community Projects This is what we are all about By understanding community and our surroundings, we can truly make a sustainable difference, if it is not all about you but about our community’s well being. Providing HOPE and bring SELFWORTH back to our community members.
This is no easy task, by no means, we have seen it start with all well intensions, only to fall under greed and corruption, so what makes 8LABS The community makes the difference? we work with communities not for them by enabling and connecting the right resource(s) to the right need(s) of the communnity.
some % from purchase/sale tax will be returned with dividend as requested by COMMUNITY, that’s why we call this a community token. membership fees, goes back into supporting the community projects where we are working with individuals and organisations.
Vission & Mission
We see a future for the financial world where all assets are tokenized on-chain and people have efficient ways to transfer or manage their funds. At 8LABS, we always look ahead which is why we’ve designed our products to be seamless, secure and instant — the financial services of tomorrow.
8LABS is committed to successfully solving inefficiencies in the lending markets by creating innovative, convenient and sustainable solutions. By harnessing the potential behind blockchain technology, 8Labs is pioneering a new digital financial system.
8Labs values are rooted in efficiency, transparency and inclusivity. This is reflected in our fully-automated products, transparent processes and our extensive efforts to develop a truly global service that makes wealth creation opportunities available to everyone.
DAO SYSTEM
Governance is managed by a community DAO and has the ability to perform maintenance functions and parameter adjustments via decentralized governance votes,including:
● Upgrading contracts
● Changing protocol configurations and parameters
● Selecting Unique Entity Check providers
● Setting the rewards and distribution of 8Labs
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● Pausing protocol activity in the event of an emergency Discussion of Fraud Resistance Because the protocol does not require crypto overcollateralization, this opens up new potential vectors for fraud.
It is worth discussing each one in depth, and how the protocol builds resistance against it. Note that these scenarios focus on malicious or dishonest activity, not poor performance of well-intentioned borrowing. Fraudulent Borrower, Honest Backers A fraudulent Borrower could attempt to fool both Auditors and Backers into thinking they are legitimate, and then borrow capital without repaying it.
The first guard against this are the Auditors, who must approve Borrowers before borrowing. Because Auditors are randomly selected, it is difficult to collude with them. The second guard are the Backers, who are highly incentivized to analyze their investments closely, since they supply higher-risk junior capital. It is likely that Backers will want to do extra research on Borrowers and potentially communicate with them directly.
Lastly, Backers may sign off-chain legal contracts with Borrowers, which opens Borrowers to legal recourse. Borrower Collusion with Backers A Borrower could collude with people they know to act as Backers and supply to their Borrower Pool. This would artificially increase the leverage ratio and fool the Senior Pool into allocating additional capital. The first guard against this are the Auditors, who must approve Borrowers before borrowing.
Because Auditors are randomly selected, it is difficult to collude with them. The second guard is that it requires many individually verified Backers to supply significant amounts of upfront capital in order for the Senior Pool to provide leverage, which makes such collusion difficult and expensive. Lastly, the Unique Entity Check adds sybil resistance by making it difficult to programmatically create fake Backers
DETAIL ABOUT FAIRLAUNCH THE $8LABS:
TOKENOMICS
TOTAL SUPPLY: 100.000.000
DEVELOPMENT,RND,TEAM,DIVIDEND: 30.000.000
PANCAKESWAP: 70.000.000
MAX WALLET: 2%
MAX TRANSACTION: 1%
Buy And Sell Taxes
BUY: 10%
SELL: 10%
Tax Allocations
Liquidity Pool: 5%
Dividend/Loan: 2%
Marketing: 5%
Development: 8%
Total: 20%
$8Labs Community
Telegram: https://t.me/EightLabs
Twitter: https://twitter.com/EightLabsCM
Website: https://eightlabs.space
Docs: https://eight8labs-docs.gitbook.io
Contact: https://t.me/Boe_Eight
Note: Estimated time for 8LABS launch Q2 2023
© 2022 Eight($8)Labs . All rights reserved.
